A SHOW OF INTENT

The Farnborough International Airshow will be a showcase of the global recovery in air travel and the industry's sustainability focus, special report by MIKE RAJKUMAR

- MIKE RAJKUMAR

The Farnborough International Airshow in 2024 will be a showcase of the aviation industry’s dramatic recovery following the lows from the COVID-19 pandemic. According to the International Air Transport Association’s (IATA) ‘Global Outlook for Air Transport’ released this June, thanks to solid and persistent demand for air transportation, Traffic has caught up with 2019 levels, and profitability has returned to the industry. The report stated that the airline industry had matched 2019 levels of Revenue Passenger Kilometers (RPK) as of February 2024. The IATA expects a 11.6 per cent growth in total RPKs this year and an increase of 10.4 per cent in the number of global passengers. “Asia Pacific will lead the growth among the regions, contributing to more than half of the global net gain in passenger numbers by 2043,” the report said.

These projections have resulted in record-breaking demand for exhibition space at this year’s edition of the Farnborough International Airshow which is set to reach new heights as the preeminent marketplace for an industry on an upwards trajectory. The industry’s reporting of high, pre-pandemic level results is reflected in the increased demand for exhibition opportunities and floor space at Farnborough International Airshow 2024.

Over 90 per cent of commercial exhibition spaces and chalets were spoken for as early as August last year and to meet the exceptional demand, the organisers of the airshow, Farnborough International constructed 17 new chalets, 50 per cent of which were sold in 2023 itself. All available exhibition space for the show was sold out by March this year itself.

‘At Farnborough International, we are ready to support the industry within this period of growth and act as a catalyst for positive, future-focused change that will steer the trajectory of aerospace, space and defence for the next decade,’ said Gareth Rogers, CEO of Farnborough International.